Forex News

The Japanese Yen strengthened across the board as investors scaled back their appetite for risk, while the British Pound extended the decline from earlier this week and slipped to a low of 1.4937 as Fitch Ratings held a cautious outlook for the U.K.

The British Pound extended the previous day’s decline to reach a fresh weekly low of 1.4938 during the European trade as Fitch Ratings held a cautious outlook for the U.K. economy, and the currency may continue to trend lower going into the U.S. session as investors curb their appetite for risk.

The British Pound declined against the spectrum of major currencies in overnight trade after a disappointing set of house price and retail sales figures as well as rumors that Moody’s may downgrade the bonds of several UK banks.

British forex.com/category/british-pound/”title=”pound” >Pound May Consolidate After Falling to 10-Month Low Fundamental Forecast for British Pound: Bearish – UK Mortgage Approvals Slip to Eight-Month Low, Consumer Credit Improves – Bank of England Maintains Policy in March – Consumer Confidence Advances to Two-Year High The British Pound slipped to a 10-month low against the U.S. dollar as the economic docket reinforced a weakened outlook for …